Home resales on the rise in May

OTTAWA — Sales of existing Canadian homes rebounded by a record 56.9 percent in May 2020, according to data from the Canadian Real Estate Association. That figure, however, is a percentage of the weakest month of April on record. The May gain therefore represented a return of only a third of the activity lost between February and April, and the May 2020 sales figure was still the lowest level for that month since the mid-1990s. Actual (not seasonally adjusted) sales activity was still running 39.8 percent below last May.